Pakistan yet to transition fully to most favoured nation status for India: Nirmala Sitharaman

By: |
New Delhi | Published: July 31, 2017 4:57:33 PM

Pakistan is yet to award the most favoured nation status to India and it maintains a negative list of 1,209 items which are not permitted to be imported from India, Parliament was informed today.

most favoured nation, most favoured nation status, most favoured nation status to india, india pakistan, pakistan india, india pakistan news, mfn status, india mfn status, nirmal sitharamanCommerce and Industry Minister Nirmala Sitharaman said in a written reply that the government has not taken any decision to review the MFN status accorded to Pakistan, so far. (PTI)

Pakistan is yet to award the most favoured nation (MFN) status to India and it maintains a negative list of 1,209 items which are not permitted to be imported from India, Parliament was informed today. Commerce and Industry Minister Nirmala Sitharaman said in a written reply that the government has not taken any decision to review the MFN status accorded to Pakistan, so far. As per a World Trade Organisation (WTO) rule, every member of WTO requires to accord this status to other member countries. India has already granted this status to all WTO members including Pakistan. Under MFN, a WTO member country is obliged to treat other trading nation in a non-discriminatory manner, especially with regard to customs duty and other levies. “However, Pakistan is yet to transition fully to MFN status for India,” Sitharaman said. The neighbouring country allows only 137 products to be exported from India through Wagah/Attari border land route, she added. The bilateral trade between the countries stood at USD 2.28 billion in 2016-17.

India mainly exports cotton, dyes, chemicals, vegetables and iron and steel wehile it imports fruits, cement, leather, chemicals and spices.

Do you know What is Centrally Sponsored Scheme, Non Tax Revenue, Non Debt Capital Receipts, Consolidated Fund of India, Disinvestment? FE Knowledge Desk explains each of these and more in detail at Financial Express Explained. Also get Live BSE/NSE Stock Prices, latest NAV of Mutual Funds, Best equity funds, Top Gainers, Top Losers on Financial Express. Don’t forget to try our free Income Tax Calculator tool.

Next Stories
1Violence in Kashmir hits economy; Srinagar, Anantnag other districts witness 5 pct dip in credit growth
2As food prices slump, pressure grows for more India interest rate cuts
3Big relief to UP builders, Yogi Adityanath government redefines ongoing projects